ZIP Code · FL

ZIP 32547

Part of Fort Walton Beach, FL

Pop. 35,527·Okaloosa County·478th most expensive ZIP in Florida

Median rent (all units)

$1,821/mo

Year-over-Year

+4.3%

Month-over-Month

+0.3%

vs US Median

-$111

Reported rents

Stable (Monthly)

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Most AffordableMost Expensive

ZIP 32547 · $1,821

More expensive than 51% of US ZIP codes · National median $1,932/mo

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Medians by bedroom

Rent by unit size

Studio

$1,290

1 BR

$1,500

2 BR

$1,690

3 BR

$2,320

4 BR+

$2,820

Research median

$1,690/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: October 17, 2026

From the history

What the numbers show

Cheapest month to sign

February. Asking rents in ZIP 32547 usually run 0.8% below trend in February and 0.9% above it in August, about $31 a month apart at today's median. Based on 11 years of data.

Compared with the peak

Rent in ZIP 32547 is at its highest level since Zillow's records here began in January 2015.

Past year vs. the rest of Florida

Rent in ZIP 32547 changed +4.3% over the year to September 2026. Across the 623 Florida ZIP codes Zillow tracks, the typical change was +1.8%.

Rent vs. income since 2019

From 2019 to 2024, rent in ZIP 32547 rose 49.9% while median household income rose 34.1% ($52,714 to $70,711). Rent outpaced income.

Since before the pandemic

Rent in ZIP 32547 is 49.9% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.

Recent direction

Rent has risen 6 months in a row, and rose in 10 of the last 12 months.

What a typical income covers

30% of the median household income ($70,711) is $1,768 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($1,690); a 3-bedroom is $2,320.

From Zillow's monthly rent index (ZORI) for ZIP 32547. The seasonal pattern compares Zillow’s seasonally adjusted and unadjusted series. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$21,852/yr

At $1,821/mo median

Location

CityFort Walton Beach

StateFL

CountyOkaloosa County

Rent Market Meter

Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are climbing (4.3% YoY), so leverage tilts toward landlords. Act sooner rather than later.

Based on rent-price momentum (+4.3% YoY, +0.3% MoM), not inventory.

Demographics

Who lives here

ZIP 32547 (Fort Walton Beach, FL) is majority owner-occupied, 27.5% of residents hold a bachelor's degree or higher.

Population

35,527

Median income

$70,711

Median age

34.9

Renters

43.1%

Age distribution

22.7%

27.4%

23.3%

15.2%

Under 1822.7%

18–3427.4%

35–5423.3%

55–6411.3%

65+15.2%

Gender

50.4%

49.6%

Male50.4%

Female49.6%

Race & ethnicity

62.1%

20.9%

White62.1%

Black11.7%

Hispanic20.9%

Asian3.5%

Other1.8%

Education (25+)

12.1%

25.6%

34.7%

27.5%

No HS diploma12.1%

HS diploma25.6%

Some college34.7%

Bachelor's+27.5%

Housing tenure

56.9%

43.1%

Owner56.9%

Renter43.1%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How ZIP 32547 in Fort Walton Beach, FL has changed in 5 years

Rent

$1,364 → $1,821

up 33.5%

Income

$55,853 → $70,711

up 26.6%

Population

32,556 → 35,527

up 9.1%

Renter share

46.5% → 43.1%

-3.4 pts

Bachelor's+

26.6% → 27.5%

+0.9 pts

Median age

36.6 → 34.9

-1.7 yrs

Since 2021, the typical rent in ZIP 32547 in Fort Walton Beach, FL has increased from $1,364 to $1,821, a 33.5% change over five years. Median household income rose from $55,853 to $70,711 between 2021 and 2024, a 26.6% shift. That spread, with rent up faster than earnings, points to a tougher affordability environment than five years ago. The population has grown by 9.1% since 2021, moving from about 32,556 residents to roughly 35,527. Renters now make up 43.1% of households, compared with 46.5% five years ago. Taken together, the five-year picture in ZIP 32547 in Fort Walton Beach, FL reflects how housing costs and the people paying them have evolved through a stretch that included a pandemic, a hot rental market, and a recent cooling phase.

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About renting in ZIP 32547

Last updated: October 17, 2026

ZIP code 32547 covers Fort Walton Beach, FL. The median rent here is $1,821/mo as of October 2026. A 1-bedroom rents for a median of $1,500/mo. A 2-bedroom rents for a median of $1,690/mo.

At 31% of local median household income ($70,711/yr), ZIP 32547 ranks as moderate compared to the national benchmark of 30%. Rents have increased 4.3% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 32547?

To keep rent at or below 30% of gross income, you would need to earn at least $73,000/year (about $35/hour full-time) to afford the median rent of $1,821/mo in ZIP 32547. The local median household income is $70,711/yr, so the typical household falls short of that bar.

Is rent going up or down in ZIP 32547?

Rent in ZIP 32547 has risen 4.3% over the past year as of September 2026. That is the highest level since Zillow's records here began in January 2015.

When is the cheapest time to rent in ZIP 32547?

Asking rents in ZIP 32547 are usually lowest in February, about 0.8% below their yearly trend, and highest in August, about 0.9% above it. At today's median that is a gap of roughly $31 a month. This pattern comes from 11 years of Zillow rent data.

Has rent outpaced income in ZIP 32547?

Yes. From 2019 to 2024, rent in ZIP 32547 rose 49.9% while median household income rose 34.1%, from $52,714 to $70,711. Rent is Zillow's yearly average; income is the Census 5-year estimate for the same years.

How does ZIP 32547 compare to other ZIPs in Florida?

ZIP 32547 is one of the more affordable among Florida ZIP codes for rent, ranking #478 of 656 at $1,821/mo. Over the year to September 2026, rent in ZIP 32547 changed +4.3%, against a typical +1.8% across the 623 Florida ZIP codes Zillow tracks.